Cyber Risks

According to the National Crime Agency, Fraud is the most prevalent crime in the UK today with an eye watering four out of five fraud cases being classed as “Cyber-Enabled.”

Cyber insurance is necessary because traditional insurance policies were not designed to handle 21st century threats. Many standard first-party insurance policies such as property and traditional crime were designed to deal with threats to a company’s physical assets – their buildings, machinery, office equipment and tangible money only. The majority of businesses these days have a much greater reliance on their digital assets than they do on their physical ones, which makes a ‘Cyber’ policy essential.

Cyber policies vastly differ so it is imperative you speak to someone who understands the various elements, our team are here to navigate through the jargon, here’s a few tips;

Incident Response - picks up costs involved in responding to a cyber incident in real time, including IT security and forensic specialist support, gaining legal advice in relation to breaches of data security, and the cost associated with having to notify any individuals that have had their data stolen.

Cyber Extortion - covers costs incurred in responding to fraudsters attempting to extort money out of an insured by either threatening to carry out a cyber-attack or by threatening to expose or destroy data.

System Damage - covers the costs for the insured’s data and applications to be repaired and restored if their computer systems are damaged because of a cyber event.

System Business Interruption - reimburses loss of profits and increased costs of working as a result of interruption to a business’ operations caused by a cyber event.

Network Security & Privacy Liability - covers third-party claims arising out of a cyber event, be it transmission of harmful malware to a third party’s systems or failing to prevent an individual’s data from being breached.

Social Engineering Fraud – covers you in the event you unknowingly, and innocently transfer funds to a fraudulent account.

Regulatory Fines – If permitted, this will cover the cost of certain fines and penalties that a regulatory body might enforce on an organisation as a result of them having suffered a data breach.

Media Liability - This covers any third-party claims arising out of defamation or infringement of intellectual property rights.

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Insurance Products » Cyber Risks

Cyber Risks for your industry

As an independent broker, if a risk can be insured, our team will expertly place it. Some of our specialist areas and focus trades are below;

Piling & Foundation Contractors

Piling & Foundation Contractors

Centricity understand the unique challenges and risks involved with Piling & Foundations and deliver a suite of products to ensure…

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Electrical & HVAC Contractors

Electrical & HVAC Contractors

Centricity’s insurance solutions for Electrical Contractors & HVAC Engineers offer market leading coverage at highly competitive premiums. We ensure that…

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Drilling Contractors

Drilling Contractors

Our expertise within the diamond & directional drilling sectors is extensive. Working with select insurers we add serious value creating…

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Groundworks Contractors

Groundworks Contractors

Centricity deliver market-leading insurance solutions for groundworkers with unlimited depth limits and if you’re working at locations deemed hazardous by…

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Our 360 Promise

At Centricity, we pride ourselves on delivering exceptional service to our clients.

That’s why we created the 360 Promise—to ensure consistent quality, proactive support, and unmatched responsiveness at every step.

We promise to be there when you need us, provide rapid documentation, and take a proactive approach to secure the best outcomes for your business.

24/7 Support

24/7 Direct Dial numbers for your account management
24/7 claims reporting line and emergency assistance

Fast Documentation & Communication

Cover Changes actioned & acknowledged the same business day
Queries handled same day and resolved within 7 days
Confirmation of Cover or Renewal sent the same day
Employers Liability Certificate issued within 7 days
Policy Documents issued within 14 days of inception/renewal

Proactive & Comprehensive Service

Pre-Renewal contact at least two months before renewal
Complimentary Collateral Warranty checking
Claims settlements made within 7 days of offer acceptance
Claims reported to Insurers the same business day 
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